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Latest Business News

JPMorgan becomes first global bank to fall foul of Hong Kong’s stricter IPO sponsorship rules

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HONG KONG (Reuters) – JPMorgan Chase & Co has become the first global investment bank to fall foul of Hong Kong’s stricter IPO sponsorship rules, dealing a blow to its…

Xi says China will boost cooperation with foreign groups

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BEIJING (Reuters) – President Xi Jinping told Walt Disney Co Chief Executive Bob Iger on Thursday China would encourage more cooperation with foreign companies and organizations, amid persistent U.S.-China commercial…

Wall St. opens higher as oil jumps

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(Reuters) – U.S. stocks opened higher on Thursday as oil prices rose for the first time this week. …read more Via:: Wall St. opens higher as oil jumps

Sanofi says ready to raise Medivation offer, threatens hostile bid

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PARIS (Reuters) – Sanofi said it was prepared to raise its proposed $9.3 billion deal to buy Medivation if the U.S. cancer drug maker engaged in talks, threatening to take…

Chesapeake Energy posts smaller loss; to sell some assets to Newfield

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(Reuters) – Chesapeake Energy Corp, the second-largest U.S. natural gas producer, reported a smaller quarterly loss and said it had struck a $470 million deal with Newfield Exploration Co for…

U.S. jobless claims post largest rise in more than a year

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WASHINGTON, (Reuters) – The number of Americans filing for unemployment benefits rose more than expected last week, posting the biggest gain in more than a year, but the underlying trend…

Alibaba’s revenue rises 39 percent as more shoppers buy online

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(Reuters) – Alibaba Group Holding Ltd, China’s biggest e-commerce company, said fourth-quarter revenue rose 39 percent, helped by growth in gross merchandise volume. …read more Via:: Alibaba’s revenue rises 39…

Merck quarterly profit up 18 percent

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(Reuters) – Merck & Co Inc reported an 18 percent rise in quarterly profit, driven by higher sales of diabetes drug Januvia and heart drug Zetia. …read more Via:: Merck…

China regulator to launch campaign to clean up e-commerce, online ads

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BEIJING (Reuters) – Chinese authorities will launch a campaign to clean up e-commerce – targeting trademark violations, counterfeit and poor quality products and the faking of transactions to boost a…

Cosmetics maker Avon’s sales fall 16 percent

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(Reuters) – Cosmetics maker Avon Products Inc reported a 16 percent decline in quarterly sales as it struggled to boost demand in Brazil and China. …read more Via:: Cosmetics maker…